Save ethically with your local credit
union
Unlike many ethical investments, your contribution can have a
positive impact on your local community. We aim to provide
a high quality, sustainable and easy to access savings and loans
co-operative, which is responsive to the needs of the people of
Brighton & Hove and actively combats the detrimental effects
of poverty and financial exclusion.
We believe that for every £1,000 invested in the credit
union we can reduce the amount of interest payments made to higher
cost lenders by £500.
Find out more by downloading our information
flyer.
And its very easy to save with us. You can pay direct from your
pay packet on one of our payroll
deduction schemes, via standing order, Pay Point or cash at
our office or at Selsfield
Drive Housing Office.
Each year after we have met our essential running costs we redistribute
our profit back to the local community. This 'dividend' is your
share of our success. We last paid a dividend of 2.6% in November
2005 and during 2006/07 decided to reinvest the profits back into
the business.
As the credit union grows so should the rate of return for our
investors.
The law is also due to change and we are expecting credit unions
to be able to pay an interest on savings in addition to any dividend.
Watch this space for more information.
 Visit our forms page to download a quick application form
This page was last updated on 14th May 2008.
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News
4th August 2008
Positive changes to credit union
legislation
The Economic Secretary to the Treasury, Kitty Usher, has just
confirmed a range of changes to the rules governing credit unions
that will allow us to offer a much broader range of services to
our members. These include:
- Making 'common bond' legislation more flexible - that means
that even if you don't live or work in East Sussex you could
still join our credit union in some circumstances
- Enabling groups and not just individuals to become members
- if your community organisation is looking for somewhere to
bank that means you could choose the credit union
- Allowing credit unions to pay interest on accounts as well
as a profit sharing dividend - so we can offer more certainty
about the return you could get on your investment with us
- Removing the age limit, so that our junior members can also
become full members of the co-operative
"These changes will make a real difference to the credit
union", commented General Manager, Adrian Davies "We
will be able to offer accounts that pay interest to people living
outside of East Sussex, including many Housing Association tenants
who do not currently qualify for membership."
The legislative changes are expected to be in place by July 2009
Read
more news
Join the Credit Union by downloading a membership application form
Services
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Members' area
Download share transaction and loan application forms and read the latest newsletters |
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Ethical savings
Locally focused ethical investment opportunities with a great social and financial return |
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Affordable credit
Easy to access credit facilities which could save you £100s |
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Payroll deduction
Save directly from your pay packet |
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Volunteer training
Receive high quality training in return for your time as a volunteer |
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Money advice
More information about our in-house budgeting advice service and plans to extend advice services to credit union members |
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Supporters
Find out which organisations are working with the credit union and the benefits of supporting our co-operative |
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